SOURCE: Strata Decision Technology, L.L.C.

Strata Decision Technology, L.L.C.

February 09, 2016 11:23 ET

Strata Decision Selected as Financial Platform for Spartanburg Regional Healthcare System

Top-Ranked South Carolina Hospital to Leverage StrataJazz® to Better Understand and Manage the Cost of Care

CHICAGO, IL--(Marketwired - February 09, 2016) - Strata Decision Technology (Strata Decision), a pioneer and leader in the development of cloud-based financial analytics and performance tools for financial planning, decision support and continuous improvement for healthcare providers, announced today that Spartanburg Regional Healthcare System (SRHS) has selected StrataJazz™ as an integrated solution to drive financial performance, manage cost and improve value.

SRHS, based in South Carolina, has earned several prestigious awards including Spartanburg Medical Center (SMC) being named one of the 40 Best Hospitals for Common Care ratings by the U.S. News & World Report. A total of 4,600 hospitals were evaluated nationwide and SMC was the only South Carolina hospital to earn this honor. SMC earned high-performing status in five specialty areas: chronic obstructive pulmonary disease, heart bypass surgery, heart failure, and hip and knee replacement.

"We chose Strata because of their proven track record in helping providers better understand and manage cost," said Bruce Davis, Vice President of Finance at SRHS. "Having better access to actionable and accurate data around costs will enable us to use our resources more effectively and deliver on our mission."

A major focus of this agreement is bringing clinical and financial data together to make more informed decisions that drive better value for their patients. SRHS will integrate StrataJazz with their existing enterprise systems, including their Electronic Health Record (EHR) from EPIC and their Enterprise Resource Planning (ERP) application from Lawson.

"Leading healthcare providers like Spartanburg Regional Healthcare System are broadening their focus from simply driving volume to truly delivering value, from both a clinical and financial perspective," said Dan Michelson, Chief Executive Officer at Strata Decision. "StrataJazz provides a platform to help them ensure that they are using their resources to support their clinical mission."

StrataJazz is a single integrated SaaS platform for operational budgeting, decision support, financial forecasting, strategic planning, capital management, management reporting, and performance management. Strata Decision's extensive library of best-practices enhances the accuracy, efficiency and effectiveness of critical financial planning and management processes.

About Spartanburg Regional Healthcare System

SRHS offers a full spectrum of services through four hospitals: Spartanburg Medical Center, Pelham Medical Center, and Spartanburg Hospital for Restorative Care and Union Medical Center. SRHS also includes Ellen Sagar Nursing Center, 113-bed long-term care, skilled nursing facility that offers nursing care and rehabilitation services. SRHS provides unparalleled oncological care through the Gibbs Cancer Center & Research Institute. The multidisciplinary Medical Group of the Carolinas has more than 300 physicians across seven counties in two states. SRHS employs nearly 6,000 associates and offers outpatient surgery centers, a vibrant post-acute division, a Level I Trauma Center, and Advicare, a licensed Health Maintenance Organization (HMO). Advicare provides Medicaid services to residents throughout the state of South Carolina. U.S. News and World Report ranked Spartanburg Medical Center the No. 1 regional hospital in South Carolina in 2014-15. The Commission on Cancer gave Gibbs Cancer Center & Research Institute its Outstanding Achievement Award.

About Strata Decision Technology

Strata Decision Technology provides an innovative cloud-based financial analytics and performance platform that is used by healthcare providers for financial planning, decision support and continuous improvement. Founded in 1996, the Company's customer base includes 1,000 hospitals and many of the largest and most influential healthcare delivery systems in the U.S.

The Company's StrataJazz® application is a single integrated software platform that includes modules for capital planning, contract modeling, cost accounting, cost management, decision support, financial forecasting, management reporting, operational budgeting and performance improvement and strategic planning. The Company's headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com.

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